Can You Sell Your Half of the Home With the Permission of the Other Person?

Four ways to own a home exist. Joint Tenancy with the right of survivorship, also called JTROS, allows each owner the same rights to the home. Tenancy in Common allows owners to own specific percentages of a home. Property ownership could be split any number of ways, such as 60 percent and 40 percent. The other types of ownership, sole ownership and Tenancy by the Entirety, do not apply. Tenancy by the Entirety is available to married couples in some states.

One of the most common types of ownership is Joint Tenancy with right of survivorship. When a husband and wife buy a home and one spouse dies, ownership of the property goes directly to the survivor. This cannot be overturned by a will. Any two or more people can buy a home as joint tenants. The same rules of ownership apply. If one of the owners should die, then his share of the property would be equally divided between the remaining owners.

Joint tenancy must meet certain rules, or "unities," as they are called. They include the same rights to the properties; possession of the entire property, receiving the title at the same time and a deed or document that shows evidence of title. If one of these unities is broken, such as circumstances that might require a co-owner to sell her share, the unity is broken and Tenancy in Common is created.

Tenancy in Common is similar to joint tenancy but without the right of survivorship. Should one of the co-owners die, ownership of that portion of the property would be determined by a will or probate.

Your first step in selling your share of the home would be to determine whether you are joint tenants or tenants in common. That information is on the title to your house. If you do not know or cannot find the title to the house in your stack of mortgage papers, call the bank where you send your payments.

In either case, as long as your co-owner agrees to the sale, you should be free to do so. Before you embark on a transaction that involves property and money, it would be wise to have a real estate attorney look over the papers for any possible problems. The new buyer should also understand that ownership is a Tenancy in Common. This would likely be a 50 percent share, as yours was, or any portion that is mutually agreeable.

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